Public Charity

NORTH CAROLINA INSURANCE UNDERWRITING ASSOCIATION

NORTH CAROLINA INSURANCE UNDERWRITING ASSOCIATION is a Public Charity headquartered in RALEIGH, NC. Financial data from the 2025 filing: $673.5M revenue, $320.4M expenses, $2.2B total assets.

EIN: 237102759 RALEIGH, NC Latest filing: 2025

Total Revenue$673.5M

Total Expenses$320.4M

Total Assets$2.2B

Grant Records0

Filing Years2021–2025

Mission

IN 1969, THE NORTH CAROLINA GENERAL ASSEMBLY ESTABLISHED THE ASSOCIATION AS A MARKET OF LAST RESORT TO PROVIDE PROPERTY INSURANCE IN THE BEACH AND COASTAL AREAS OF NORTH CAROLINA FOR INDIVIDUALS AND BUSINESSES WHO ARE UNABLE TO BUY IT IN THE STANDARD INSURANCE MARKET. ALL PROPERTY AND CASUALTY INSURANCE COMPANIES DOING BUSINESS IN NORTH CAROLINA ARE REQUIRED BY STATUTE TO PARTICIPATE IN FUNDING THE OPERATIONS OF THE ASSOCIATION, AND THEY SHARE IN ITS LOSSES ON PRO RATA BASIS. THE ASSOCIATION IS NOT AN AGENCY OF THE STATE GOVERNMENT, BUT ITS REGULATED BY THE NORTH CAROLINA COMMISSIONER OF INSURANCE.

Where $100 goes at North Carolina Insurance Underwriting Association

How North Carolina Insurance Underwriting Association divides every $100 it spends, from its own Form 990 filings, averaged across 9 years.

$100 Programs the work itself

<$1 Management running the organization

$0 Fundraising none reported

No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.

Inside the $100 for programs

$100

Conduct business by providing property insurance to individuals and businesses who were unable to buy it in the standard market

All program spending

Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Officers & Directors

BOARD MEMBER Alex Garate

CHAIR (TO NOV '25)/BOARD MEMBER Allen Houck

CHIEF OPERATING OFFICER Alvin Ashworth

BOARD MEMBER (TO NOV '25) Becky Pollard

BOARD MEMBER Bill Long

BOARD MEMBER Charlotte Hicks

Officer compensation and complete director data available with membership.

Financial Trends

Year	Revenue	Expenses	Assets
2025	$673.5M	$320.4M	$2.2B
2024	$570.8M	$316.8M	$1.8B
2023	$446.8M	$244.5M	$1.5B
2022	$357.8M	$184.7M	$1.2B
2021	$314.1M	$164.7M	$1.0B

Between 2021 and 2025, reported annual revenue grew from $314.1M to $673.5M (+114%), with total assets most recently reported at $2.2B.

Interactive year-over-year charts and full filing details available with membership.

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